In this issue:

Policy update

The House and Senate Appropriations Subcommittees for Agriculture released preliminary numbers for next fiscal year. Generally the House numbers are more conservative than those from the Senate … Read more

Affordable Housing Finance magazine ranks Self-Help Enterprises No. 42 on annual list

VISALIA – Self-Help Enterprises has long been regarded as the premiere developer of affordable housing in the San Joaquin Valley, but now it can make the claim that it is among the best in the nation. Read more

Dear Sher

Is there a limit on the cash assets a nonelderly applicant can have and still get a 502 Direct loan? I am working with an applicant who is very low-income but they also have $42,000 in non-retirement cash assets. Read more

Handbook 3550-1 Regulation Updates through Procedure Notice (PN) 513

Rural Development issued Procedural Notice 513 in June making changes to the Section 502 Direct and the Guaranteed programs and handbooks. For 502 Direct program packagers there appear to be two worth calling out that directly affect you. Read more

502 Direct loan packaging training

Hosted by RCAC August 28 – 30, 2018 in Sacramento, California – This three-day advanced course will cover USDA Rural Development’s (RD) Section 502 direct loan program and provide invaluable insight as to how this homeownership financing resource can be used in your communities. Learn how your organization can assist potential borrowers and work in partnership with RD staff in your state to deliver successful Section 502 loan packages. Through this course participants will learn the regulations and practical applications of the loan program. Participants will develop a strong understanding of 502 direct underwriting and packaging standards, which will ensure that submitted loan dockets are complete and ready for processing.

Participants who attend this three-day training and pass the online exam will be better equipped to package 502 loan applications on behalf of parties seeking USDA RD assistance. The course is also excellent for Mutual Self-Help Housing grantees who want to build their skills in packaging loans for participating households. Check RCAC’s training calendar  the week of June 25 to register!

RCAC is hiring–we’re looking for a financial specialist!

Financial management specialist-financial management, assessments, training. Your financial management skills can make a real difference in rural communities! Provide technical, managerial and financial assistance support to local organizations working in a variety of housing programs. Find this and other job opportunities under Careers on RCAC’s website.  Apply today

News you can use!

Loan Packaging Express

USDA Rural Development presents the first issue of Loan Packaging Express, a newsletter for packagers! Check it out for current information on 502 allocations, intermediary meeting updates, USDA spotlight success stories and more.

RCAC is hiring–we’re looking for a financial specialist!

Financial management specialist-“financial management, assessments, training.” Your financial management skills can make a real difference in rural communities! Provide technical, managerial and financial assistance support to local organizations working in a variety of housing programs. Find this and other job opportunities under Careers on RCAC’s website.  Apply today

RCAC’s Self-Help Builder News is funded by USDA Rural Development

The newsletter is published quarterly for the western region self-help network at no cost to subscribers. We encourage correspondence and contributions.

Stanley Keasling, chief executive officer

Angela Sisco, executive editor
asisco@rcac.org

Sharon Wills, managing editor
swills@rcac.org

Editorial office, West Sacramento, CA (916) 447-2854

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